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New Agreement Backs Local Expertise in Groundwater Exploration


New Agreement Backs Local Expertise in Groundwater Exploration

TEM Company and the Ethiopian Water Technology Institution (EWTI) have signed a five-year memorandum of understanding that makes EWTI the authorised in-country service and repair partner for TEM Company’s Transient Electromagnetic geophysical instruments, used to locate groundwater more efficiently across large areas with fewer human resources. The partnership includes training engineers, establishing a repair hub in Addis Abeba, and conducting joint research aimed at developing local expertise and reducing reliance on foreign support. Officials say the collaboration will support Ethiopia’s 2024–2029 groundwater mapping initiative while bolstering climate resilience and long-term water security.

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Radar

Abay Bank Lists on Ethiopian Securities Exchange as Fifth Entrant

Abay Bank Share Company began trading on the Main Board of the Ethiopian Securities Exchange (ESX) on June 25, becoming the fifth company to list after registering its ordinary shares with the Ethiopian Capital Market Authority (ECMA). The stock debuted at 1,800 Br a share, making all 9.66 million ordinary shares immediately tradable. The listing follows a year of strong financial and digital growth. For the fiscal year ended June 30, 2025, the bank reported a three-billion-Br profit, assets...


Radar

Court Freezes Bank Accounts and Assets in Cosmo Trading Dispute

The Federal High Court Civil Bench has ordered the Commercial Bank of Ethiopia, Awash Bank, Hibret Bank and Bank of Abyssinia to freeze accounts held by Cosmo Trading Plc and Haileyesus Mengistu, blocking transactions of up to 400 million Br. The order follows the House of Federation's April 27, 2026 decision to suspend enforcement of earlier commercial rulings while it reviews a constitutional dispute over inheritance and contested business assets. The case centres on a nine-storey hotel on...


Radar

Bule Hora, Kebri Dehar Universities Sign Austrian Partnership

Bule Hora and Kebri Dehar universities have signed separate memoranda of understanding with Austria's Leoben University to strengthen training in mining, petroleum and energy as Ethiopia seeks to build resource-based industrial capacity. The partnerships aim to enhance academic and practical skills in mining engineering, petroleum studies and energy systems, disciplines viewed as critical to the country's long-term extractive and industrial ambitions. Under the agreement, Bule Hora Univers...